BofA analyst Geoffroy de Mendez double downgraded Boohoo to Underperform from Buy with a price target of 40 GBp, down from 75 GBp. The firm sees market share risk due to competition from Shine. Shein is looking to target U.K. and Europe, where 75% of Boohoo’s sales come from, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BHOOY:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue